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i want to see our economy recover. i would like to see this -- stronger labor markets, fiscal policy address the issues that i mentioned. there are a lot of difficult issues out there. i do think things are moving, not as fast as we would like, but in the right direction. i am cautiously optimistic about the next couple of years. >> thank you. [applause]as i mentioned, i am sure that there are a great many questions that have already been shared with our presenters. let me turn the floor to them. quick thank you for your comments chairman bernanke. i am a masters student. the first question is this -- if treasury minted a trillion dollar platinum coin, with the fed have except did it -- accepted it? >> i am not going to give that any oxygen. as you probably know, the treasury and federal reserve -- the treasury issued a statement that we did not think this was the right way to deal with this problem. there are legal issues and policy issues. the right way to deal with this problem, as i said earlier, is for congress to
i want to see our economy recover. i would like to see this -- stronger labor markets, fiscal policy address the issues that i mentioned. there are a lot of difficult issues out there. i do think things are moving, not as fast as we would like, but in the right direction. i am cautiously optimistic about the next couple of years. >> thank you. [applause]as i mentioned, i am sure that there are a great many questions that have already been shared with our presenters. let me turn the floor...
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it is all to point to a ship which triumphs economy and social progress economy development and social progress so i don't see in korea have to change drastically is a model for economy course we have to import food and we have to put back it's a cent off the printer. let's take a look at the markets to see how they finished this week over in europe equities ended friday's session mixed to see gained a third of a percent thanks mainly to the metals sector that reacted to two upbeat news from china the dax ended below the line and then here in moscow take a look an impressive day for the equities both of the our t.x. and r.t.s. excuse me and the my six posted very strong gains about one percent each the r.t.s. closed above the psychologically important level of sixteen hundred points for the first time since april now on the currency markets to the dollar was strengthening to the euro and as you're seeing here the russian ruble closed mixed to the major currencies. now business r.t. will continue to bring you the latest from davos all week long for more coverage you can check out our we
it is all to point to a ship which triumphs economy and social progress economy development and social progress so i don't see in korea have to change drastically is a model for economy course we have to import food and we have to put back it's a cent off the printer. let's take a look at the markets to see how they finished this week over in europe equities ended friday's session mixed to see gained a third of a percent thanks mainly to the metals sector that reacted to two upbeat news from...
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greatly divergent economies were put together. you know it you stitched up a frankenstein in a way and then injected blood into its main grease entered the monetary union its g.d.p. per capita it was about a third that of germany. but then greece started to increase the level of spending and it increased it a great deal now if they had stayed out of the eurozone if they were in this position now with the drachma of course they could devalue that devaluation would cut their debt down but in the process right now if people thought that was going to happen interest rates would soar and they wouldn't be able to do it but like you said countries like greece and spain portugal they kept losing competitiveness one stage joined the european union and that's because they had nothing to devalue to in order to make up for their losses and that of course is also because of the euro i mean they really had their hands tied with the euro they couldn't really stimulate their economies domestic economies i made a plan for the year i think it was t
greatly divergent economies were put together. you know it you stitched up a frankenstein in a way and then injected blood into its main grease entered the monetary union its g.d.p. per capita it was about a third that of germany. but then greece started to increase the level of spending and it increased it a great deal now if they had stayed out of the eurozone if they were in this position now with the drachma of course they could devalue that devaluation would cut their debt down but in the...
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Jan 19, 2013
01/13
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i want to see our economy recover. i like to see a stronger labor market, fiscal policy address the issue that i mentioned. -- issues that i mentioned. i think that things are moving in the right direction. i am cautiously optimistic about the next couple of years. >> thank you. [applause] i am sure there are a great many questions that have already been shared with our presenters. let me turn the floor to them. >> i master student -- am a master's student. if treasury had mentored a trillion dollars and platinum coin, with the fed have accepted it -- minted a trillion dollar platinum coin, with the fed have accepted it, and what would it mean going forward? >> i am not going to give that any oxygen. [laughter] the treasury and federal reserve over the weekend -- the treasury issued a statement that the federal reserve approved, stating that we did not think this was the right way to deal with this problem. there are legal issues, policy issues. the right way to deal with this problem is for congress to do what it is s
i want to see our economy recover. i like to see a stronger labor market, fiscal policy address the issue that i mentioned. -- issues that i mentioned. i think that things are moving in the right direction. i am cautiously optimistic about the next couple of years. >> thank you. [applause] i am sure there are a great many questions that have already been shared with our presenters. let me turn the floor to them. >> i master student -- am a master's student. if treasury had mentored...
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Jan 16, 2013
01/13
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CSPAN2
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toying with the global economy. and so, i think it is somewhat -- it seems great to talk about to the ninth, but the closer you get to that class, the less likely it is that you'll find the u.s. over it. the mac for me ask one other in the loco to grind out third start. he told "politico" last week that a balanced approach replacing the sequesters spending cuts and revenue should accelerate tax refund is fully possible this year for work and by person basis. does that square with people estate tax reform is going to because of scheduling. need to do with the limits of kuester and the house republicans concern if they do anything on tax reform, that they may leave themselves open to the senate not taking action and therefore an unpopular vote for no reason. are you optimistic on tax reform? >> first of all, we have to resolve this debt crisis in terms of sequestration and intern says the full faith and credit of the u.s. in the next six weeks. we are going to accomplish tax reform in the next six weeks. so we have a
toying with the global economy. and so, i think it is somewhat -- it seems great to talk about to the ninth, but the closer you get to that class, the less likely it is that you'll find the u.s. over it. the mac for me ask one other in the loco to grind out third start. he told "politico" last week that a balanced approach replacing the sequesters spending cuts and revenue should accelerate tax refund is fully possible this year for work and by person basis. does that square with...
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Jan 18, 2013
01/13
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and the thing that hung over the economy at that time was inflation. we just couldn't seem to deal with the inflation problem. so we had a deep recession in '7 4-'75. we had another recession in 1980, we had another recession in 1981-'82, so a double dip recession. and then finally, paul volcker who was chairman of the federal reserve and his colleagues decided to whack the economy over the head really hard and take the inflation out of the system, and finally it did, although it took a while. it wasn't really until the fall in oil prices in '86, but we really got rid of the inflation demon and, i think in some ways, laid the groundwork for the period following that in the 1990s when we had strong productivity growth, we had strong markets really starting in the mid 1980s. so the analogy in my mind is we have this deficit that's now hanging over us, um, and for some of the same reasons it's a really hard problem to solve. it lacks a federal reserve, so we don't have the equivalent of an actor like paul volcker who can come in and say, okay, we're going
and the thing that hung over the economy at that time was inflation. we just couldn't seem to deal with the inflation problem. so we had a deep recession in '7 4-'75. we had another recession in 1980, we had another recession in 1981-'82, so a double dip recession. and then finally, paul volcker who was chairman of the federal reserve and his colleagues decided to whack the economy over the head really hard and take the inflation out of the system, and finally it did, although it took a while....
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Jan 15, 2013
01/13
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since 2003, the economy has been steadily growing. but most of that growth hinges on mining copper and other raw materials. and this concerns jakamba. >> we are used to buy things, supplying raw materials to the western world. then we receive finished products. why don't we have finished products ourselves and export to the rest of the world? >> reporter: to get his business growing, chikamba hired ten young people. two years later, they came out with a product that's caught on big in zambia. it's called a bicycle with a long covered. many hospitals in zambia can't afford a truck. so it's in big demand. but chikamba had another idea, to make a bicycle using material that grows locally, bamboo. >> it's a bit of a product. we have excess in africa. coming to a point to convert it to a bike, it's something that's a novelty. it's unique. >> reporter: bamboo in zambia is very durable. its thickness is just right for bicycle frames. once the bamboo dries out, workers cut it. then they join it. next, they bind it several times. after the res
since 2003, the economy has been steadily growing. but most of that growth hinges on mining copper and other raw materials. and this concerns jakamba. >> we are used to buy things, supplying raw materials to the western world. then we receive finished products. why don't we have finished products ourselves and export to the rest of the world? >> reporter: to get his business growing, chikamba hired ten young people. two years later, they came out with a product that's caught on big...
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but now it looks like it could all be over what was it about well exactly the world's second largest economy is or does seem to be losing its competitive edge and i have katie here with me to talk more about it so it does seem like other countries in southeast asia including indonesia vietnam they all seem to be cheaper in terms of production rates so but i'm a big believer in china's economic miracle i don't think it's over where you have to say no i really think there is that i think that's a long way off but they're all from us signals of problems and as you say there are some rivals are on the agenda as well really i'm talking about the decline in foreign direct investment because it's now down the first time it's been down since two thousand and nine two thousand i will be dealing with a global economic crisis of course so this is you know a lot of bells are going off why it's full to do with manufacturing costs are getting higher they don't have the labor costs they used to have back in the day for the last three decades really which is managed to help their economy just grow at a asto
but now it looks like it could all be over what was it about well exactly the world's second largest economy is or does seem to be losing its competitive edge and i have katie here with me to talk more about it so it does seem like other countries in southeast asia including indonesia vietnam they all seem to be cheaper in terms of production rates so but i'm a big believer in china's economic miracle i don't think it's over where you have to say no i really think there is that i think that's a...
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the cause report looks at the source of all the risk which is making the world's economy so unstable. getting hazardous out there lots of toxic derivatives nuclear meltdowns nine hundred micrograms of particulate air so thick you can hardly brave people so thick you can barely stand living next to the. risk. again idea why don't we just remove the wrist from the. oh that's right because that risk there would be no african capital as you know no. because report coming away very soon here on our teens thing with money matters we have natasha and katie with the business of. choice it's built it's miraculous economic recovery low cost manufacturing but that's all going to change and what's happening there well it does seem like the world's second largest economy is losing its competitive edge and i have katie over here that knows all about it does it really seem like it's losing out to countries in southeast asia like indonesia and vietnam that how cheaper a production capacity is because it's direct foreign investment this year sliding it's down almost four percent indeed and that's very
the cause report looks at the source of all the risk which is making the world's economy so unstable. getting hazardous out there lots of toxic derivatives nuclear meltdowns nine hundred micrograms of particulate air so thick you can hardly brave people so thick you can barely stand living next to the. risk. again idea why don't we just remove the wrist from the. oh that's right because that risk there would be no african capital as you know no. because report coming away very soon here on our...
WHUT (Howard University Television)
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Jan 18, 2013
01/13
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he has promised to pull japan out of deflation and revitalize the economy. and he wants to reinforce ties with countries considered to be engines of growth. abe had hoped to make washington his first foreign visit. but u.s. officials couldn't find time because of president obama's inauguration. still, abe wants to visit as soon as possible. he says the alliance is the foundation of japanese security in an increasingly difficult environment. japanese and american diplomats have been struggling to agree on how to relocate a u.s. military base in okinawa. they've run into strong opposition from residents. on top of that, the americans have been pressuring the japanese to start talks on a free trade agreement. farmers and lobby groups are urging abe not to join the transpacific partnership. many wonder how abe will balance these pressures as we tries to achieve his goals. >>> foreign diplomats are still trying to find out what happened after troops mounted a rescue operation at a gas plant in algeria. islamist militants took dozens of workers earlier in the week
he has promised to pull japan out of deflation and revitalize the economy. and he wants to reinforce ties with countries considered to be engines of growth. abe had hoped to make washington his first foreign visit. but u.s. officials couldn't find time because of president obama's inauguration. still, abe wants to visit as soon as possible. he says the alliance is the foundation of japanese security in an increasingly difficult environment. japanese and american diplomats have been struggling...
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be the economy or whether it be his own backbenchers now widely expected that the prime minister will pledge a major european treaty with vision included in that would be a clawing back powers to britain in key areas such as economic and social laws that govern labor and policing and criminal justice will need to put its membership in the e.u. would then be put to the country's citizens in a referendum after the next general election i think you've really got what he really painted himself into a corner where he's got to have a referendum after an election and he will try a skillful politician if he is to paper over the cracks to give a bit. and say that we now are looking for europe to make a response to our proper requests that it will be a very. confident speech until you actually analyze it and you see that he's asking for the e.u. to behave in a way that's not open. hell. labor say a referendum would be condemning britain to years of uncertainty you can't say the prime minister with talk of repatch nation is being misleading and they are strong on style they say lacking in substa
be the economy or whether it be his own backbenchers now widely expected that the prime minister will pledge a major european treaty with vision included in that would be a clawing back powers to britain in key areas such as economic and social laws that govern labor and policing and criminal justice will need to put its membership in the e.u. would then be put to the country's citizens in a referendum after the next general election i think you've really got what he really painted himself into...
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the economy. works right through to jobs and their unemployment rate is much much lower than in the united states and has been all along what is the nature of that control. well they have a protected market frankly so that in manufacturers'. they don't have to worry about. being undercut by china. they have. an industrial policy that makes sure that their jobs are pretty solid. and that is supported where necessary by. controls on imports we have the so-called deficit hawks here in the united states who are downright hysterical that our debt to g.d.p. ratio is depending on whose numbers you're using and whether social security somewhere that ever had a seventy percent or one hundred ten percent and yet japan is over two hundred percent of their g.d.p. is dead is that not the case if i'm remembering correctly and if so why is that not a problem for them. well it is their figures them on that circuit or on it's hard to know with just these figures for us what's really going on because there may be d
the economy. works right through to jobs and their unemployment rate is much much lower than in the united states and has been all along what is the nature of that control. well they have a protected market frankly so that in manufacturers'. they don't have to worry about. being undercut by china. they have. an industrial policy that makes sure that their jobs are pretty solid. and that is supported where necessary by. controls on imports we have the so-called deficit hawks here in the united...
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many people say huge parts of it's a huge factor in its economy and it's something that not only mali but specifically niger and other neighboring parts where the tourist people reside. sits on top of almost every single light bulb in france runs on electricity generated by nuclear power nuclear power relies on a steady flow of pure rainy i'm so you don't have to be a nuclear physicist to figure out that to keep all these bright lights on the french government depends on a steady flow of the precious natural resource but molly says micio land is not about power or money you know security this is nothing to do with any political issue from a different time if we are defending a government or business interests which government which business. some have their suspicions nationally forty pleasure energy company. is about to finish the second largest ukrainian mining plant in the world next to mali every year the cars do exactly this uranium is going to be very cheap there's a third world very cheap. predators play a very dangerous game and after the french military offensive reportedly s
many people say huge parts of it's a huge factor in its economy and it's something that not only mali but specifically niger and other neighboring parts where the tourist people reside. sits on top of almost every single light bulb in france runs on electricity generated by nuclear power nuclear power relies on a steady flow of pure rainy i'm so you don't have to be a nuclear physicist to figure out that to keep all these bright lights on the french government depends on a steady flow of the...
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an economy not so far away actually the global economy is on the verge of a currency war allow me to paint a quick picture for you in japan where the newly elected prime minister has been pushing for a more aggressive central bank policy has been dropping the yen went down by eleven percent since december meanwhile in europe the euro is rising and that's right despite the debt and eurozone crisis austerity measures and so on the euro grew by seven percent in the last six months and experts say europe has fired the first shell e.u. financial of forty's warned the rise of the euro is threatening the economy so it is possible it will be deliberately dropped meanwhile across the atlantic the united states has been printing blocks for the last five years to support of markets but that also makes the dollars cheaper in washington has been looking over the shoulder and china which holds the majority of u.s. foreign debt and beijing is also accused of holding back the u. one reason why they do that is the one currency is dropped at the export becomes cheaper making the country more competiti
an economy not so far away actually the global economy is on the verge of a currency war allow me to paint a quick picture for you in japan where the newly elected prime minister has been pushing for a more aggressive central bank policy has been dropping the yen went down by eleven percent since december meanwhile in europe the euro is rising and that's right despite the debt and eurozone crisis austerity measures and so on the euro grew by seven percent in the last six months and experts say...
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Jan 19, 2013
01/13
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CNN
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is the world's largest economy, the u.s. dollar is a global reserve currency. housing continues to pick up, unemployment is going down, american corporations are the world's largest and they're sitting on lots of cash, which, you know, sort of quixotically it's precisely that strength that allows washington to continue to be so incredibly dysfunctional. yeah, i'm feeling pretty bad over whae's coming out of capitol hill in the next few months but it's not medication that leads me to believe america is stable. >> even washington may not be able to mess up what's going on. christine romans, we've been talking about the consequences of not having a budget, a serious plan to deal with debt and deficits. but a number of prominent democrats point out the debt problem isn't that much of a problem. money is basically free many america and republicans should stop obsessing about it. >> a new narrative and they're getting bolder with it. the debate is the way liberals and conservatives see the world. those on the left have no problem with the government taking a larger r
is the world's largest economy, the u.s. dollar is a global reserve currency. housing continues to pick up, unemployment is going down, american corporations are the world's largest and they're sitting on lots of cash, which, you know, sort of quixotically it's precisely that strength that allows washington to continue to be so incredibly dysfunctional. yeah, i'm feeling pretty bad over whae's coming out of capitol hill in the next few months but it's not medication that leads me to believe...
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but again experts say that that's yet another threat to the european economy so. you're saying they're saying the euro is going up despite years of absolute the widespread austerity and slashes to health care and pensions and you just about name where is america in all this was quite interesting the united states have been printing out books for the past five years to help the financial markets and basically that also makes the dollar cheaper they've been also looking over their shoulder at china which holds the majority of the u.s. foreign debt and it's also been ordered fish really controlling holding back its national service of some sort of it's very interesting you say that because china is holding a huge amount of american debt at the same time when america is increasing its military presence in the far pacific but why is america and all these other countries why are they printing extra cash i'm not an economist i don't exactly understand what the whole point is well the reason why countries artificially decline or decrease the cost of their national currenc
but again experts say that that's yet another threat to the european economy so. you're saying they're saying the euro is going up despite years of absolute the widespread austerity and slashes to health care and pensions and you just about name where is america in all this was quite interesting the united states have been printing out books for the past five years to help the financial markets and basically that also makes the dollar cheaper they've been also looking over their shoulder at...
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not so far away the global economy indeed is on the brink of a new currency war let me just paint a quick picture for you japan's newly elected prime minister has been dropping the yen and it went down eleven percent since december now europe has already according to experts fired the first round and european financial. authorities they say that with the growing euro that's threatening the european economy although as you're telling me that the euro has grown exactly despite the eurozone crisis the debt crisis widespread austerity people losing their retirement funds cut downs in health care as well massive unemployment many analysts say the eurozone is has been going down the drain for years. you're telling me the euro's grown exactly a group way seven percent in the last year and now experts say that that's yet another threat to european economies so we may see european financial authorities also start lowering their own deliberately the euro so where's america in all this what's the fed doing i mean we all know i mean the the fed is not exactly the most democratic book in his nat
not so far away the global economy indeed is on the brink of a new currency war let me just paint a quick picture for you japan's newly elected prime minister has been dropping the yen and it went down eleven percent since december now europe has already according to experts fired the first round and european financial. authorities they say that with the growing euro that's threatening the european economy although as you're telling me that the euro has grown exactly despite the eurozone crisis...
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drain the economy on one side so it's almost a endless circle a have to continue off in b.'s interventions to be able to bring in the resources to be able to then say we're able to have new interventions and unfortunately that's been the story of the last. thirty or forty years so they're constantly moving troops around in part because countries dr very comfortable with having american troops stationed there as you've seen in the far east in japan troops have committed crimes on the civilian population and that has caused difficulties with their acceptance within the population. let's check some other world news in brief now an apartment building has collapsed killing twenty five and injuring at least twelve in the coastal egyptian city of alexandria rescue forces are continuing their search for survivors under the rubble it's not yet know what caused the accident similar collapses in the past have been blamed on poor building specifications and maintenance local media said police have a rest of the buildings. signs of ca's a gathering in the south east of turkey for a memor
drain the economy on one side so it's almost a endless circle a have to continue off in b.'s interventions to be able to bring in the resources to be able to then say we're able to have new interventions and unfortunately that's been the story of the last. thirty or forty years so they're constantly moving troops around in part because countries dr very comfortable with having american troops stationed there as you've seen in the far east in japan troops have committed crimes on the civilian...
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you're i mean look at the the situation in europe of the facts i mean russia at the moment although the economy has slowed considerably from about four percent starting to see it's about two points if you sell your external reasons or is it domestically more both but i think the more the problems in europe than anything else of trade for russia it is still growing the fastest growing country in europe and will continue to be this year and depending on what happens in the second half of the year particularly it should pick up and you know it will do better than everyone else but will still perform below its potential to russia story jake are you a big surprise to the economist when it comes to russia and no i think there is a there is a sort of deep rooted skepticism about russia among many commentators and i think it's not helps perhaps by some of the decisions that have been taken recently for instance about the the orphan adoption law but fundamentally you know i think russia is in a very strong position at the moment i think it ran a fiscal surplus last year had a current account surplus of
you're i mean look at the the situation in europe of the facts i mean russia at the moment although the economy has slowed considerably from about four percent starting to see it's about two points if you sell your external reasons or is it domestically more both but i think the more the problems in europe than anything else of trade for russia it is still growing the fastest growing country in europe and will continue to be this year and depending on what happens in the second half of the year...
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Jan 16, 2013
01/13
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CSPAN2
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economy. at the same time with quite a bit to do to address our long-term sustainability issues. a lot more work to do, let me be very clear about that. but it's going to be a long haul. it's not going to happen overnight. basically because the government budget represents the values and priorities of the public, and decisions been made about what to spend on, what you tax and so on are very difficult and contentious decisions that will take some time to address. >> well, those is to use -- those issues of course are not the specific purdy of the fed, and so why do we shift gears and talk more specifically about some things that the fed is doing and things that the fed might do. perhaps a way to introduce that is to say that the fed of course is keeping interest rates at close to zero since roughly 2008, and it dug pretty deep into its arsenal, more recently in terms of in particular the very massive asset purchases recently launched its third round, which are intended to bring long-term inter
economy. at the same time with quite a bit to do to address our long-term sustainability issues. a lot more work to do, let me be very clear about that. but it's going to be a long haul. it's not going to happen overnight. basically because the government budget represents the values and priorities of the public, and decisions been made about what to spend on, what you tax and so on are very difficult and contentious decisions that will take some time to address. >> well, those is to use...
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the real economy so yes the u.k. is definitely going down relative to other countries indonesia is in fact indeed rising and that's about the one thing the report has managed to get right in all other respects the report is utterly preposterous taking a view over thirty three years i mean the intelligence agencies take ten fifteen years maximus their view. regards global warming the report hasn't even heard that or gusts institution the b.p. c meteorological office and now admits there's been no global warming for sixteen years there are plenty of factors in the situation but not carbon dioxide. records just likely ask you about ok you can't predict ahead thirty years so this report is nonsense but clearly is there something that the u.k. perhaps could do to remedy its course at the moment in order for that not to happen because obviously it seems to be a start prediction and could happen. oh yes the way forward is simply number one control of this outrageously out of control arrogant elitist financial institutions a
the real economy so yes the u.k. is definitely going down relative to other countries indonesia is in fact indeed rising and that's about the one thing the report has managed to get right in all other respects the report is utterly preposterous taking a view over thirty three years i mean the intelligence agencies take ten fifteen years maximus their view. regards global warming the report hasn't even heard that or gusts institution the b.p. c meteorological office and now admits there's been...
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an economy not so far away actually the google economy is on the verge of a currency war let me paint a quick picture for you japan where the newly elected prime minister is pushing for a more aggressive central bank policy has been dropping the yen went down by eleven percent since december meanwhile in the european union experts say europe has fired the first shell e.u. financial authorities warn the rising euro is threatening the economy despite the debt and eurozone crisis austerity measures and so on the euro group by seven percent in the last six months so it is possible that you will start dropping it also now the united states has been printing bucks for the last five years to support the markets but that also makes the dollar cheaper washington has been looking over the shoulder at china which holds the majority of u.s. foreign debt and b. jing is also accused of holding back its currency the reason why they do that is when a currency is dropped to the export becomes cheaper it makes the country more compact comparable but it isn't applauded by other countries which me retali
an economy not so far away actually the google economy is on the verge of a currency war let me paint a quick picture for you japan where the newly elected prime minister is pushing for a more aggressive central bank policy has been dropping the yen went down by eleven percent since december meanwhile in the european union experts say europe has fired the first shell e.u. financial authorities warn the rising euro is threatening the economy despite the debt and eurozone crisis austerity...
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Jan 21, 2013
01/13
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FBC
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, global economy starts to reaccelerate. keep in mind, in the united states the federal reserve's balance sheet has gone from 3 trillion to 4 trillion. there's roughly about 50 trillion dollars of global debt that's u.s. based. okay? what i mean by u.s. based, i mean dollar backed. so it's not as if we're moving the money supply up 20 or 30 percent. it's, though, something to keep an eye on. david: now, unemployment is 7.8%. precisely the level it was at four years ago. of course it's gone up and come down a bit. but are we looking for that to become the new normal? >> i don't believe in the new normal here. because if you have reacceleration of the u.s. economy over 3%, to 3 1/2%, then that whole term new normal -- david: we are nowhere near that. the difference between 2 percent and 3 percent is enormous in terms of what it means for the economy. >> it is. we are anticipating in the later half of 2013 you could start to see 2 1/2, 3 percent perhaps. and in 2014 -- david: when you think of all we've lost and how much we're
, global economy starts to reaccelerate. keep in mind, in the united states the federal reserve's balance sheet has gone from 3 trillion to 4 trillion. there's roughly about 50 trillion dollars of global debt that's u.s. based. okay? what i mean by u.s. based, i mean dollar backed. so it's not as if we're moving the money supply up 20 or 30 percent. it's, though, something to keep an eye on. david: now, unemployment is 7.8%. precisely the level it was at four years ago. of course it's gone up...
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Jan 17, 2013
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the goal is to overcome the negative impact of the strong yen and deflation and to create a strong economy with growth in jobs and income. on the other hand, the council states the government needs to achieve the primary balance by reducing the deficit to half by fiscal 2015. but the draft fell short of setting a specific limit on the issuance of japanese government bonds to finance the budget, as the previous administration of the democratic party did. it only urges the government to keep bond issues to a minimum. >>> executives at struggling chipmaker renesas electronics say they need to slash their workforce even further. they're planning a 10% staff cut through a voluntary retirement program. renesas is one of the world's largest suppliers of microcontroller chips. managers told the company's labor union that they'll offer early retirement to about 3,000 employees aged 40 and older. the plan is part of restructuring efforts put in place after the company reached a deal on a rescue package with investors. the deal will allow renesas to receive about $2.3 billion from a state-backed fund
the goal is to overcome the negative impact of the strong yen and deflation and to create a strong economy with growth in jobs and income. on the other hand, the council states the government needs to achieve the primary balance by reducing the deficit to half by fiscal 2015. but the draft fell short of setting a specific limit on the issuance of japanese government bonds to finance the budget, as the previous administration of the democratic party did. it only urges the government to keep bond...
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economy will be in another four years from now. well hunter fortunately the economy is still a shambles we have very high unemployment and underemployment we're growing at a tiny pace and there are some there saying we're about to go into a recession the kinds of things that are being talked about by congress and the white house and the new treasury secretary point the jacob lew are going to make a recession more likely because they're talking about on this very austerity that will take more money out of the economy at the exact like bleeding the patient. in old malpractise it's we need to the opposite this country is a collapse is still going on we need to move toward more stimulus we need to be building the economy up not taking money out insuring it we're going to see an obama recession if that's the path they pursue and it's a path that's going to undermine the elderly and the poor because they're talking about cuts to social security medicare and medicaid as well as social programs are much needed some of it on to some interna
economy will be in another four years from now. well hunter fortunately the economy is still a shambles we have very high unemployment and underemployment we're growing at a tiny pace and there are some there saying we're about to go into a recession the kinds of things that are being talked about by congress and the white house and the new treasury secretary point the jacob lew are going to make a recession more likely because they're talking about on this very austerity that will take more...
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hello and welcome to cross talk russia's economy in two thousand and thirteen what are its strengths weaknesses opportunities and threats is the russian economy becoming more or less competitive is the pace of reform on track and is russia prepared to withstand external shocks. to cross out the prospects of the russian economy in two thousand and thirteen i'm joined by my guest in moscow jake up know he's the chief economist at morgan stanley an heiress he's the editor in chief of business new europe and you just laugh lisa volek he is the chief economist at deutsche bank russia all right gentlemen crosstalk rules and i mean you can jump in anytime you want before we talk about the swan analysis of the russian economy ben i want to go to you newsweek a few days ago a writer on matthews and we have ed lucas over at the economist they keep telling me for about a decade now that this economy is about to collapse now you're a journalist is well you don't say the same thing where's the disconnect. people tend to focus on the negative part of the story and the trouble at the russia story i
hello and welcome to cross talk russia's economy in two thousand and thirteen what are its strengths weaknesses opportunities and threats is the russian economy becoming more or less competitive is the pace of reform on track and is russia prepared to withstand external shocks. to cross out the prospects of the russian economy in two thousand and thirteen i'm joined by my guest in moscow jake up know he's the chief economist at morgan stanley an heiress he's the editor in chief of business new...
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economy had grown 1% less, our economy would've been the same size in 1990 as a that of mexi mexico. that 1% difference over that century created massive outcome difference. looking forward 10 years from now, if we go out 2% rather than 3% potential we will have have had $1 trillion worth of outcome which is about 10 -- in this economy. that's a very, very big deal. the growth alone is also not important. it's also growth that is inclusive. that is broadly shared and that's one of the things that brookings is devoted to the we have a project called the hamilton project wizard -- which is focused o on the issue. if over the course of the last 30 years, roughly 35 years, the average income in the united states house hold have grown at the same rate of you succumb, 26% for the household growth, 2% of economy, the per capita gdp would be 50% higher than it is today, $90,000 versus $16,000. if you translate that into can what happens in household economy that is final. and what we do in washington is really, really important i just came back from a trip to brazil but i don't want to spend
economy had grown 1% less, our economy would've been the same size in 1990 as a that of mexi mexico. that 1% difference over that century created massive outcome difference. looking forward 10 years from now, if we go out 2% rather than 3% potential we will have have had $1 trillion worth of outcome which is about 10 -- in this economy. that's a very, very big deal. the growth alone is also not important. it's also growth that is inclusive. that is broadly shared and that's one of the things...
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the well you know what i'm saying is this that europe is aging europe as a percentage of the world economy is now below a fifth form in quite sharply it is gripped by eurozone crisis which is likely because of their fanaticism to keep it together to last for up to a decade and yeah ok europe is thirty percent of our overseas exports and it's an important market place but the rest of the world is more important to us. because we're stuck inside this old fashioned nineteenth century concept of a customs union we cannot make our own trade deals anywhere else in the world let's have a free trade deal with europe like the swiss do and let's reengage with the rest of the world we've always see this latest postponement to take understandable reasons but i've seen a number of delays already what do you think about that the fact that this is such a huge issue and we just had. you know i've been waiting for years for this speech another couple weeks doesn't matter too much thank you very much for joining us nigel for us clear information about when exactly that big speech in europe will be delivered
the well you know what i'm saying is this that europe is aging europe as a percentage of the world economy is now below a fifth form in quite sharply it is gripped by eurozone crisis which is likely because of their fanaticism to keep it together to last for up to a decade and yeah ok europe is thirty percent of our overseas exports and it's an important market place but the rest of the world is more important to us. because we're stuck inside this old fashioned nineteenth century concept of a...
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rules and i mean you can jump in anytime you want before we talk about the swat analysis of the russian economy ben i want to go to you i mean newsweek a few days ago a writer on matthew and we have ed lucas over at the economist he keep telling me for about a decade now that this economy is about to collapse now you're a journalist is well you don't say the same thing where's the disconnect. people tend to focus on the negative part of the story and the trouble at the russia story is that there are lots of problems and if you focus on those then you can forecastle source of gloom and doom the imminent collapse of the oil price that will bring the russian economy down in flames but the reality is that it continues to grind their way and make progress and. you're i mean look at the the situation in europe of the facts i mean russia at the moment although the economy has slowed considerably from about four percent stuff in the last year to about two point two you said your external reasons or is it domestically. both i think the more the problems in europe than anything else has dragged russia ye
rules and i mean you can jump in anytime you want before we talk about the swat analysis of the russian economy ben i want to go to you i mean newsweek a few days ago a writer on matthew and we have ed lucas over at the economist he keep telling me for about a decade now that this economy is about to collapse now you're a journalist is well you don't say the same thing where's the disconnect. people tend to focus on the negative part of the story and the trouble at the russia story is that...
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find out what's really happening to the global economy with mike's cars are there are no holds barred look at the global financial headlines tune in to kaiser report on our. welcome back to cross talk i'm peter lavelle to remind you we're talking about russia's foreign policy gentlemen at the end of last year secretary of state hillary clinton warned about the research he does ation of russia and the post soviet space i want to go through all three of you your reaction to that. you are playing who was a. secretary of state a recruited because of the mystic political reasons it was actually a coalition of ministration and obama had to do it due to situation democratic party. and i must see she was very much. disciplined secretary of state she basically fulfilled the policy formulated in the white house but now you know sharing on the fact that qaddafi was murdered when we came he died yeah that's that was actually the position of many in the states. probably along i think you are the most himself but but in the russian issue of. the year reset wasn't he'll recall into this idea but she
find out what's really happening to the global economy with mike's cars are there are no holds barred look at the global financial headlines tune in to kaiser report on our. welcome back to cross talk i'm peter lavelle to remind you we're talking about russia's foreign policy gentlemen at the end of last year secretary of state hillary clinton warned about the research he does ation of russia and the post soviet space i want to go through all three of you your reaction to that. you are playing...
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the this is massively affect our relationships our trade relationships certainly have a hit on the economy as a result of that what do you say to those concerns a classic scare tactics always employed by the status quo whether they're defending slavery for the called laws or e.u. membership you know transparently body with a whole series of shocks you know three million british jobs would be lost if we left the european union really really we import massively more from the e.u. than we sell to them would mislead is stop selling cars. we have the e.u. well i think we all know the answer and you think the person should be looking to trade outside the well you know what i'm saying is this that europe is aging europe as a percentage of the world economy is now below a fifth form in quite sharply it is gripped by eurozone crisis which is likely because of their fanaticism to keep it together to last for up to a decade and yeah ok europe is thirty percent of our overseas exports and it's an important market place but the rest of the world is more important to us and we're impotent because we're
the this is massively affect our relationships our trade relationships certainly have a hit on the economy as a result of that what do you say to those concerns a classic scare tactics always employed by the status quo whether they're defending slavery for the called laws or e.u. membership you know transparently body with a whole series of shocks you know three million british jobs would be lost if we left the european union really really we import massively more from the e.u. than we sell to...
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the russian economy say that i like to. leave the little. things are. plain. do we speak your language anybody will or not a day of school music programs and documentaries and spanish what matters to you breaking news a little tonnage of angola's kidneys stories. you hear. the choice at all to spanish to find out more visit i to allahabad all tito is calm. place. and. length. and. close i. download live. stream. and enjoy it. if you're always. welcome back across to remind you we're talking about the prospects for the russian economy in two thousand and thirteen ok. let's not use this one analysis here i mean let's look at the russian economy this year what's its greatest strength. i think the room resources i mean the fact that it's making money and that it isn't any money it's got no debts and that puts it in a very comfortable position because you know despite the failures of reform or the lack of reform and some areas russia can afford to get it wrong to make mistakes restraint can also turn into a threat ok take up what do you think its greatest strength.
the russian economy say that i like to. leave the little. things are. plain. do we speak your language anybody will or not a day of school music programs and documentaries and spanish what matters to you breaking news a little tonnage of angola's kidneys stories. you hear. the choice at all to spanish to find out more visit i to allahabad all tito is calm. place. and. length. and. close i. download live. stream. and enjoy it. if you're always. welcome back across to remind you we're talking...
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Jan 15, 2013
01/13
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the economy according to ben bernanke - what the fed chair has to say about the state of the country's finances. and, how automakers are setting a new pace for competition. plus, traders who are sweet and sour on apple. first business starts now. you're watching first business: financial news, analysis, and today's investment ideas. good morning. i'm angela miles. it's tuesday, january 15th. in today's first look: as facebook makes its big reveal on its new product today, shares briefly climbed above $32 yesterday. bloomberg news reports dell is in talks to end its trading days and go private. federal regulators order jp morgan chase to improve its risk management after losing billions in trading last year. and american airlines bond holders meet today to weigh in on whether the airline should merge with u.s. airways. ira epstein of the linn group joins us now. always a pleasure to have you on the show. what is going on with the market? it is so resilient. where is all this money coming from ira? > > think about it: 2012, the end of the year, we didn't know where we were in taxes, peop
the economy according to ben bernanke - what the fed chair has to say about the state of the country's finances. and, how automakers are setting a new pace for competition. plus, traders who are sweet and sour on apple. first business starts now. you're watching first business: financial news, analysis, and today's investment ideas. good morning. i'm angela miles. it's tuesday, january 15th. in today's first look: as facebook makes its big reveal on its new product today, shares briefly climbed...
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Jan 16, 2013
01/13
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. >> they are going with the american economy and the global economy. closer you get to the fiscal cliff, i think the less likely it is that the u.s. will be funded over and. >> okay, let me ask about tax reform. mutual political last week that a balanced approach to placing the sequester with benefits and revenues should accelerate tax reform, and i believe it's fully possible this year we work on a bipartisan basis. how does that square with the people that say that the tax reform is going to lose out because of scheduling and needing to deal with the debt ceiling and the looming sequester and house republicans concerned that if they do anything on tax reform, that they may leave themselves open to the senate not taking action. therefore, they have taken in on popular vote for no reason. >> first of all we have to solve this debt crisis in terms of sequestration and in terms of the full faith and credit of the u.s. and. we are not going to accomplish tax reform in the next six weeks. so we have a deadline that cannot basically be moved for what we nee
. >> they are going with the american economy and the global economy. closer you get to the fiscal cliff, i think the less likely it is that the u.s. will be funded over and. >> okay, let me ask about tax reform. mutual political last week that a balanced approach to placing the sequester with benefits and revenues should accelerate tax reform, and i believe it's fully possible this year we work on a bipartisan basis. how does that square with the people that say that the tax reform...
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Jan 17, 2013
01/13
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the goal is to overcome the negative impact of the strong yen and deflation and to create a strong economy with growth and jobs and income. now, on the other hand, the council states the government needs to achieve the primary balance by reducing the deficit to half by the fiscal year of 2015, but the draft did fall short of setting a specific limit on the issuance of government bonds to finance the budget as the previous administration turned democratic party did. it only urges the government to keep bond issues to a minimum. >>> well, executives at struggling chipmaker electronic says they need to slash the workforce further. they are planning a 10% staff cut through a voluntary retirement program. renesas is one of the largest suppliers of microcontroller chips. the managers told the company's labor union they will offer early retirement to about 3,000 employees aged 40 and older. the plan is part of restructuring efforts put in place after the company reached a deal on a rescue package with investors. the deal will allow renesas to receive $2.3 billion from the state-backed fund as wel
the goal is to overcome the negative impact of the strong yen and deflation and to create a strong economy with growth and jobs and income. now, on the other hand, the council states the government needs to achieve the primary balance by reducing the deficit to half by the fiscal year of 2015, but the draft did fall short of setting a specific limit on the issuance of government bonds to finance the budget as the previous administration turned democratic party did. it only urges the government...
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Jan 17, 2013
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the caps should go up when the economy is strong and be adjusted down when the economy is not. as i mentioned, we need to expand the number of green cards for foreign nationals who graduate from our colleges and universities with advanced degrees. even with high unemployment we have millions of job openings that go unfilled. either the workers come here to fill those jobs, or let me tell you, ladies and gentlemen, those jobs go somewhere else. and when they do, other jobs go with them. we also need a workable, reliable national employee verification program. now, the e-verify program has been dramatically improved. we are ready to move forward with it nationally provided there is strong preemption language for state and local laws, no obligation to reverify the whole team -- i know companies with 35, 50,000 employees. we certainly don't have to do that. and we need safe harbor for good faith efforts by employers. finally, we need to provide a path out of the shadows for 11 million undocumented immigrants who live in the united states today. with the understanding they will meet
the caps should go up when the economy is strong and be adjusted down when the economy is not. as i mentioned, we need to expand the number of green cards for foreign nationals who graduate from our colleges and universities with advanced degrees. even with high unemployment we have millions of job openings that go unfilled. either the workers come here to fill those jobs, or let me tell you, ladies and gentlemen, those jobs go somewhere else. and when they do, other jobs go with them. we also...